Strong beat across all key metrics with raised dividend and in-line FY2027 guidance supports continued momentum. Watch for tariff/geopolitical headwinds in H2 FY2027 as the company noted stronger margin expansion expected in H1. The 10% dividend increase signals confidence in cash flow generation.
Price Chart
Executive Summary
Ralph Lauren reported Q4 FY2026 results ahead of expectations, with revenue of $1.98B (+17% YoY, +12% constant currency) and adjusted EPS of $2.80, both exceeding consensus. Full-year revenue surpassed $8B for the first time. The company introduced FY2027 guidance for mid-single-digit revenue growth and continued operating margin expansion, consistent with long-term targets. A 10% dividend increase was also announced.
Key Financial Metrics
Key Facts
- Q4 FY2026 revenue $1.98B, +17% YoY reported, +12% constant currency, above consensus of $1.85B
- Q4 adjusted EPS $2.80 vs $2.27 YoY, above consensus of $2.54
- Full-year FY2026 revenue $8.1B, +15% YoY reported, +12% constant currency
- Full-year adjusted EPS $16.59 vs $12.33 YoY
- Global direct-to-consumer comparable store sales +17% in Q4, +13% for full year
- Adjusted gross margin 69.7% in Q4, +110 bps YoY; full-year 69.9%, +130 bps YoY
- Adjusted operating margin 11.0% in Q4, +70 bps YoY; full-year 16.0%, +200 bps YoY
- Asia revenue +31% reported (+28% constant currency) led by China; Europe +18% (+6% cc); North America +8%
- FY2027 guidance: constant currency revenue growth mid-single digits (~4-5%), operating margin expansion 40-60 bps
- Board approved 10% dividend increase to $1.00/quarter ($4.00 annual)
- Returned >$700M to shareholders in FY2026 via dividends and buybacks; $1.4B remaining on buyback plan
- Ended FY2026 with $2.1B cash/short-term investments and $1.2B debt
Financial Impact
Q4 revenue beat consensus by ~$130M (7%); adjusted EPS beat consensus by $0.26 (10.2%); full-year revenue exceeded $8B for first time
Risk Factors
- Tariff and trade policy uncertainty, particularly US tariffs and potential retaliatory measures
- Foreign currency volatility (FX benefited Q4 by ~450 bps on revenue)
- Inflationary pressures on costs and consumer discretionary spending
- Highly dynamic global operating environment noted by management
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-037053 |
| Document: 0001628280-26-037053-index.html | 0001628280-26-037053 |
| Document: 0001628280-26-037053.txt | 0001628280-26-037053 |
| 8-K Data (Synthetic) | 0001628280-26-037053 |
Track record builds as more directional reports settle.
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| Type | Now | ||||
|---|---|---|---|---|---|
Aug 14, 2026 7w ago | Court Ruling | $388.92 $341.43 | ▼ −12.21% | ▼ −10.22% | $361.12 (−7.15%) |
Aug 12, 2026 7w ago | Court Ruling | $396.35 $336.67 | ▼ −15.06% | ▼ −13.16% | $361.12 (−8.89%) |
Aug 6, 2026 8w ago | 8-K | $395.83 $344.20 | ▼ −13.04% | ▼ −13.64% | $361.12 (−8.77%) |
Jul 9, 2026 12w ago | Court Ruling | $387.58 $395.83 | ▲ +2.13% | ▼ −0.11% | $361.12 (−6.83%) |
May 21, 2026 19w ago | 8-K | $374.90 $410.37 | ▲ +9.46% | ▲ +9.13% | $361.12 (−3.68%) |
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